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Yuan Edges up Against USD on Thursday

Yuan Edges up Against USD on Thursday

Write: Bettina [2011-05-20]

The yuan rose slightly against the U.S. dollar on Thursday after China's central bank vowed to make the exchange rate regime more flexible.

The central parity of the RMB against the U.S. dollar stood at 6.8100 Thursday, slightly stronger than Wednesday's 6.8102, according to the data released by the China Foreign Exchange Trading System.

The yuan closed at 6.8124 to the dollar on Wednesday, slightly higher than Tuesday's finish of 6.8136.

China's central bank announced over the weekend it would push forward reform of the Renminbi exchange rate to make it more flexible, but ruled out a one-off revaluation.

The central parity rate hit 6.7980 on Tuesday.